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Tuesday, 28 February 2023

What the markets are doing on 28 February, 2023

Egytrans’ net income jumped 152.4% y-o-y to EGP 46.1 mn in 2022, according to an EGX disclosure (pdf). Revenues, meanwhile, rose 36.3% to EGP 400.1 mn.

Export Development Bank’s (EBank) net income climbed 113.5% y-o-y to EGP 1.3 bn in 2022, according to an EGX disclosure (pdf). The state-owned bank’s net interest income rose to EGP 3.2 bn, up 60.3% y-o-y. On a 4Q basis, net income rose 85% to EGP 345.7 mn and net interest income jumped 90% to EGP 1 bn.

The EGX30 fell 0.6% at today’s close on turnover of EGP 2.21 bn (10.8% above the 90-day average). Foreign investors were net sellers. The index is up 16.5% YTD.

In the green: Ezz Steel (+3.8%), Qalaa Holdings (+3.3%) and Elsewedy Electric (+2.7%).

In the red: Mopco (-6.2%), Rameda Pharma (-3.6%) and Oriental Weavers (-3.3%).

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